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Phone: 410-795-5105
Toll Free Phone: 866-627-7899
Fax: 410-795-1577

Maryland Title Company | Maryland Title Insurance | Maryland Closing Costs
Refinancing
Purchasing a Home
What do I need for settlement?
A copy of your driver’s license and a second form of ID such as passport, military ID or social security card and any funds that may be required at the table.
What forms of payment do we accept if funds are required at the table?
The only forms of payment accepted are money order, wired funds from your bank or cashiers check. We do not accept personal checks, cash, credit cards or COD (cash on delivery). **
Why is title insurance required on a refinance?
All banks and lenders require a lender’s title policy to protect the money that they are lending to you in your new loan. When you bought your home most likely you purchased an owner’s title policy which is good for the life of the home and never needs to be repurchased until it is sold.
How quickly will I receive my funds from my refinance?
In all primary residence refinance transactions there is always a 3 business day Right of Rescission from the time you settle to the time that a title company receives your money. We expect to over-night or wire funds on the day they are received. Typically this is one to two days after the disbursement date on your settlement statement.
Where can we close my loan?
We are willing to close at just about any location such as your home, our office, the local library, a restaurant or even your place of work. If we are traveling to you please understand that we may need a 30 to 90 minute window to account for difficulties in traffic and weather conditions. We appreciate your understanding. **
Who needs to be present at settlement?
All parties that are on the title to the property, not just the mortgage are required to be present to sign.
If I cannot be present for settlement what can we do?
With approval from you lender, we will prepare a specific Power of Attorney for you. **
What does Advantage Title need to start my refinance?
All we need is for your loan officer to contact us directly and we will take care of the rest. **
Why do I need owner’s title insurance?
An owner’s title policy protects you and your home against unforeseen and costly problems. Some examples include, but are not limited to unrecorded owners in title, unrecorded or unreleased liens and judgments and mistakes that can be caused by the county or state recording offices. Without an owner’s policy you could end up spending hundreds of thousands of dollars satisfying these problems or even loose your house.
What is the maximum coverage provided by my owner’s title policy?
Your owner’s title policy will cover up to your full purchase price, not including settlement costs.
Example: You are buying a home for $300,000 and 6 months later there is a lien holder demanding full payment of an unrecorded lien in the amount of $68,000. Your title insurance will satisfy this amount and you will have $232,000 left in coverage in your owner’s title policy.
 
This coverage does not increase with the value of your home; however, your owner’s policy can be updated for your new appraised value at any time.
What does Advantage Title need to get my order started?
All we need is a copy of your ratified contract of sale; either from you or your Real Estate agent. If you are borrowing money to purchase a home we will need the contact information for your loan officer or bank so that we can coordinate your settlement. **

** We are licensed in many states. View our National Coverage Map for state specific requirements and restrictions.

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